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The Impact of Globalization on Renewable Energy Development in the Countries along the Belt and Road Based on the Moderating Effect of the Digital Economy

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Listed:
  • Yu Zhang

    (School of Economics and Management, Southwest University of Science and Technology, Mianyang 621010, China)

  • Le Su

    (School of Economics and Management, Southwest University of Science and Technology, Mianyang 621010, China)

  • Warren Jin

    (CSIRO Data 61, GPO Box 1700, Canberra, ACT 2601, Australia)

  • Yunan Yang

    (School of Economics and Management, Southwest University of Science and Technology, Mianyang 621010, China)

Abstract

Within the context of globalization, the development of renewable energy is critical for attaining sustainable development, and the digital economy is also a critical driver for achieving it. This article incorporates globalization, renewable energy development, and the digital economy into its research framework, investigates the relationship between globalization and renewable energy development, and explores the moderating effect of the digital economy, using panel data from countries along the Belt and Road (B&R) from 2001 to 2018. It is found that globalization facilitates the development of renewable energy. The 1% increase in globalization results in a 1.06% increase in renewable energy development; the level of globalization has a significant effect on renewable energy development in high-income countries, upper-middle-income countries, and low-income countries, but not in lower-middle-income countries; the digital economy has a moderating effect on the impact of globalization on renewable energy development in countries along the B&R. Simultaneously, the effect of globalization on renewable energy development in B&R countries is influenced by the digital economy’s single threshold effect, and the effect of globalization on renewable energy development is more pronounced when the level of digital economy development is less than the threshold of 0.061. The conclusions of this article have significant implications for the B&R countries’ sustainable development in the contexts of globalization and the digital economy.

Suggested Citation

  • Yu Zhang & Le Su & Warren Jin & Yunan Yang, 2022. "The Impact of Globalization on Renewable Energy Development in the Countries along the Belt and Road Based on the Moderating Effect of the Digital Economy," Sustainability, MDPI, vol. 14(10), pages 1-18, May.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:10:p:6031-:d:816773
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